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Elkton shopping center sells for $5M
A shopping center in Elkton has sold for $5 million, Colliers International’s Virginia Retail Investment Team announced Thursday. The 90,943-square-foot Elkton Plaza was sold by an affiliate of Kodiak Properties LLC to Elkton Plaza LLC. The shopping center — 82% leased at the time of the sale — is anchored by Food Lion[...]
NoVa home prices soar in June
Median home sales prices increased in Northern Virginia during June, according to the Long & Foster Real Estate Market Minute Report released Tuesday. Loudoun County home prices rose 2%, while prices rose 17% in both Arlington County and the city of Alexandria. Inventory levels have dropped, however, causing the number of homes sold to decline, […]
Richmond affordable housing complex sells for $4.8M
An affordable housing apartment complex in Richmond has sold for $4.8 million, commercial real estate investment firm Greysteel announced Monday. The McGuire Park Apartments were built in 1945 and redeveloped in the early 2000s through the Low Income Housing Tax Credit program. Richmond Area Housing purchased the 80-unit compl[...]
Roanoke airport commission buys 17 acres for $2M+
The Roanoke Regional Airport Commission, which owns the Roanoke-Blacksburg Regional Airport, has purchased 17 acres of undeveloped land surrounding the airport for $2.25 million, Roanoke-based Poe & Cronk Real Estate Group announced Tuesday. The sale includes 3.7 acres at the intersection of Municipal and Aviation Drive, 4.6 acres at the intersection of Thirlane and Tom […]
Dewberry names operating unit manager
Fairfax-based engineering consulting firm Dewberry announced Tuesday that Robert Victor will lead its mid-Atlantic business as an operating unit manager. Victor was most recently the transportation group lead with design company HDR, where he oversaw Northern Virginia, Washington, D.C., and Virginia business. In his new role, he[...]
Henrico County industrial facility sells for $9.39M
An industrial facility in eastern Henrico County has sold for $9.39 million, Richmond-based real estate firm Porter Realty Co. Inc. announced Friday. Located at 4650 Oakleys Lane, the 229,829 square-foot facility sits on more than 23 acres and features dock and drive-in loading. The property was sold by 4650 Oakleys Lane LLC t[...]
Chesterfield office building sells for $2.4M
A Chesterfield County office building has sold for $2.4 million, Norfolk-based real estate company S.L. Nusbaum Realty Co. announced Wednesday. Located at 530, 540 and 550 Southlake Blvd., the 43,544-square-foot property was 100% leased at the time of the sale to companies including industrial manufacturing company Ingersoll Ran[...]
Va. real estate firms close deal on $10.35M Tampa building
Henrico County-based commercial real estate firm Lingerfelt CommonWealth Partners LLC announced Monday it has sold a $10.35 million office building in Tampa, Florida, to Virginia Beach-based real estate investment company Continental Capital Partners. The two-story, 78,000-square foot Buschwood III office building was 92% leas[...]
U.S. nonresidential construction spending dropped in May
Nonresidential construction spending in the U.S. dropped 0.9% during the month of May, the Associated Builders and Contractors announced Wednesday, according to U.S. Census Bureau data. Spending totaled $812.5 billion for the month of May while private nonresidential spending dropped 2.4%. “Certain aspects of today’s data release are precisely what was anticipated, while other elements […][...]
Fleetwood Homes launching $2.1M expansion in Rocky Mount
Homebuilding company Fleetwood Homes will invest $2.1 million to renovate and expand its Rocky Mount facility, creating 60 jobs in Franklin County, Gov. Ralph Northam announced Thursday. “Fleetwood Homes has been a valued employer in Virginia more than 50 years, and we are proud to see the company reinvest in Franklin County,” Northam said in […]
The Branch Group CEO resigns
Roanoke-based construction company The Branch Group Inc. announced Wednesday that CEO Will Karbach has resigned. Ron Oakley, the current chairman of the board, will serve as interim CEO, effective immediately. Upon the announcement Wednesday afternoon, The Branch Group had not provided a reason for Karbach’s departure and [...]
For the Record — July 2020
EASTERN VIRGINIA Armada Hoffler Properties Inc., the Virginia Beach-based commercial developer and property owner, announced in early April that a $106.5 million deal to sell seven of its grocery-anchored shopping centers had fallen through because of the coronavirus pandemic. However, in early June, the deal was back on, this time for $90 million. The buyer […]
